Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2026

Revenue Recognition

Schedule of revenue, disaggregated by geographical region

In the following table, revenue is disaggregated by geographical region. The table also includes a reconciliation of the disaggregated revenue with the reportable segments:


		Three Months Ended
		September 30, 2026
			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	232,987		$	—		$	42,758		$	22,289		$	—		$	298,034
U.S. Offshore			15,983			—			1,956			—			—			17,939
Alaska			25,955			—			2,432			—			—			28,387
Canada			—			16,191			646			983			—			17,820
Middle East & Asia			—			296,986			34,401			17,683			—			349,070
Latin America			—			119,769			25,834			792			—			146,395
Europe, Africa & CIS			—			25,598			8,038			—			—			33,636
Eliminations & other			—			—			—			—			(19,087)			(19,087)
Total		$	274,925		$	458,544		$	116,065		$	41,747		$	(19,087)		$	872,194


		Nine Months Ended
		September 30, 2026
			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	631,843		$	—		$	118,261		$	57,478		$	—		$	807,582
U.S. Offshore			54,870			—			5,386			—			—			60,256
Alaska			81,815			—			7,116			—			—			88,931
Canada			—			50,245			1,713			3,659			—			55,617
Middle East & Asia			—			853,504			100,878			42,645			—			997,027
Latin America			—			326,848			74,403			2,494			—			403,745
Europe, Africa & CIS			—			79,940			25,170			178			—			105,288
Eliminations & other			—			—			—			—			(47,909)			(47,909)
Total		$	768,528		$	1,310,537		$	332,927		$	106,454		$	(47,909)		$	2,470,537


		Three Months Ended
		September 30, 2025
			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	185,404		$	—		$	71,336		$	21,844		$	—		$	278,584
U.S. Offshore			30,802			—			2,843			—			—			33,645
Alaska			33,630			—			2,182			—			—			35,812
Canada			—			15,633			575			1,177			—			17,385
Middle East & Asia			—			270,003			34,549			12,207			—			316,759
Latin America			—			91,050			21,917			306			—			113,273
Europe, Africa & CIS			—			30,549			8,540			63			—			39,152
Eliminations & other			—			—			—			—			(16,420)			(16,420)
Total		$	249,836		$	407,235		$	141,942		$	35,597		$	(16,420)		$	818,190


		Nine Months Ended
		September 30, 2025
			U.S. Drilling			International Drilling			Drilling Solutions			Rig Technologies			Other			Total

		(In thousands)
Lower 48		$	563,898		$	—		$	219,707		$	59,633		$	—		$	843,238
U.S. Offshore			85,989			—			6,902			—			—			92,891
Alaska			86,133			—			5,778			4			—			91,915
Canada			—			30,676			1,648			4,584			—			36,908
Middle East & Asia			—			780,429			87,006			48,176			—			915,611
Latin America			—			276,279			65,458			2,580			—			344,317
Europe, Africa & CIS			—			86,539			18,905			1,312			—			106,756
Eliminations & other			—			—			—			—			(44,472)			(44,472)
Total		$	736,020		$	1,173,923		$	405,404		$	116,289		$	(44,472)		$	2,387,164

Summary of receivables, contract assets, current and long-term contract liabilities

The opening and closing balances of our receivables, contract assets and current and long-term contract liabilities are as follows:


					Contract			Contract			Contract			Contract
		Contract			Assets			Assets			Liabilities			Liabilities
		Receivables			(Current)			(Long-term)			(Current)			(Long-term)

		(In thousands)
As of December 31, 2025		$	446,310		$	19,335		$	12,053		$	41,927		$	28,646
As of September 30, 2026		$	553,828		$	24,711		$	19,093		$	53,237		$	46,780